Grainger PLC (GRI) Reaches New 52-Week High After Insider Buying Activity
Grainger PLC (LON:GRI) reached a new 52-week high on Friday after an insider bought additional shares in the company. The company traded as high as GBX 271.70 ($3.60) and last traded at GBX 270.90 ($3.59), with a volume of 370,257 shares traded. The stock had previously closed at GBX 268.90 ($3.57).
Specifically, insider Helen Gordon purchased 116 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of GBX 261 ($3.46) per share, for a total transaction of £302.76 ($401.59). Also, insider Vanessa Simms purchased 112 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was acquired at an average price of GBX 267 ($3.54) per share, with a total value of £299.04 ($396.66). Insiders acquired a total of 344 shares of company stock valued at $90,340 in the last quarter.
A number of equities research analysts have issued reports on GRI shares. Peel Hunt reiterated a “buy” rating and issued a GBX 300 ($3.98) price target on shares of Grainger PLC in a research note on Tuesday, August 29th. Numis Securities Ltd reiterated a “buy” rating and issued a GBX 300 ($3.98) price target on shares of Grainger PLC in a research note on Wednesday, September 27th. Finally, N+1 Singer reiterated a “buy” rating and issued a GBX 320 ($4.24) price target on shares of Grainger PLC in a research note on Wednesday, September 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of GBX 294.17 ($3.90).
The firm’s 50-day moving average price is GBX 257.72 and its 200 day moving average price is GBX 258.12. The stock’s market capitalization is GBX 1.13 billion.
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Grainger PLC Company Profile
Grainger plc is a United Kingdom-based company, which operates as a residential landlord. The Company’s segments include Residential, Development, Funds and Other. Its assets include Regulated Tenancy Portfolio, Private Rented Sector Portfolio and Development. It has a portfolio of approximately 8,610 rental homes.
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